FGNX vs SPY: Correlation
FG Nexus Inc. (FGNX) and SPDR S&P 500 ETF Trust (SPY) show a near-zero relationship: their 3-year correlation of weekly returns is -0.01.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGNX and SPY?
On 3 years of weekly data the FGNX/SPY correlation comes out at -0.01, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.26) runs above the 3-year figure (-0.01). The 5-year figure is 0.11, and annualized covariance runs at -14.1 %².
By 3-year correlation, SPY places #6 of the 18 assets tracked against FGNX. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 108.1 percentage points (-87.5% for FGNX against +20.6% for SPY). Risk is not evenly split, since FGNX carries 7.2 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FGNX vs SPY: side by side
| FGNX (FG Nexus Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -87.5% | +20.6% |
| 5-year return | -98.8% | +82.4% |
| Volatility (ann.) | 105.1% | 14.5% |
| Beta vs S&P 500 | -0.07 | 1.00 |
| Max drawdown (3Y) | -97.9% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | FGNX | SPY |
|---|---|---|
| 2022 | -24.2% | -18.2% |
| 2023 | -43.9% | +26.2% |
| 2024 | -45.5% | +24.9% |
| 2025 | -87.4% | +17.7% |
| 2026 | -42.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGNX and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between FGNX and SPY?
Using weekly returns as of 2026-08-27: -0.01 over 3 years, with 0.26 over the last year and 0.11 over 5 years.
Is SPY a good diversifier for FGNX?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
What does a correlation of -0.01 mean?
A reading of -0.01 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FGNX correlations · SPY correlations
